Blog and updates
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20 Oct 2022
Edible Economics - A Hungry Economist Explains the World
When the economist Ha-Joon Chang arrived in Britain in the eighties, he was struck by how bland and homogeneous the British diet was. But it wasn’t just the food – in mainstream economic thinking...
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20 Oct 2022
The Circular Economy - Roads Can Be Recycled Forever, Why Don't More Cities Do It?
This Business Insider video clip suggests that asphalt is endlessly recyclable: however, regulations often limit the extent to which it can be recycled, with many having a 30% limit.
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19 Oct 2022
Economic Shocks - How shocks have hit growth in South Asia
This World Bank clip looks at the resilience of the South Asian economy in the wake of a series of recent shocks - floods in Pakistan, the economic crisis in Sri Lanka and the war in the Ukraine....
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19 Oct 2022
Contestable Markets - Amazon launches Amazon Insurance Store
Here is an example of a market where an established, scaled business uses their brand awareness to facilitate entry to a new sector. Amazon is launching a home insurance price comparison service...
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19 Oct 2022
Trade Barriers and De-globalisation - US curbs on selling microchips to China
We've just been looking at the US-China trade war, and you might be forgiven for thinking that in the post-Trump era it's over. But is in't.
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19 Oct 2022
Inflation reaches 10.1% - will the Triple Lock for pensions be maintained?
Inflation reached 10.1% in September - prices are now rising at a 40-year high. The BIG decision facing the UK government is whether the value of the state pension will rise by the same amount in...
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18 Oct 2022
Brexit: How leaving the EU hit the UK
The Financial Times has published a new video on the economic consequences of Brexit for the UK economy, and it is safe to say that the overall conclusion is that the hard form of Brexit that came...
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18 Oct 2022
How Europe is cutting power consumption
This Guardian article looks at what EU nations are doing to cut energy consumption.
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18 Oct 2022
Price Elasticity of Demand - Glastonbury raises ticket prices to £340
How price sensitive are fans of the Glastonbury Festival? We are about to find out. Significant price increases have been announced for 2023. Tickets for next year's Glastonbury Festival will cost...
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17 Oct 2022
RIP Trussonomics - The Chancellor's Emergency Fiscal Statement
Trussonomics is over. I've had cheese in my fridge for longer than Trussonomics has lasted. Here are the key points from the statement issued by the newly-installed Chancellor, Jeremy Hunt.
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17 Oct 2022
NHS investment boosts economic growth
A new report from health consultancy Carnall Farrar claims that every £1 invested in the NHS translates into an overall economic return of £4 in the local area. This is a good example to add to...
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17 Oct 2022
Siemens CEO calls for EU import quota for wind turbines
Renewable energy economics meets trade protectionism in a fantastic applied example for your Year 13 macroeconomics!
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16 Oct 2022
Marginal Cost - Why are Olympic Curling Stones so expensive?
Business Insider provide us with another luxury good video, this time curling stones, with each stone costing over $600.
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15 Oct 2022
IMF meetings expose the fragility of the world economy
Larry Elliott's piece for the Observer is, I think, astute about the implications of last week's IMF meetings. It seems that the 2008 global financial crisis spelt out the dangers of...
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14 Oct 2022
Trade-Offs in Action - India's solar-powered future clashes with local life
The global rise of solar power seems unstoppable, and in the Indian desert, a new solar power farm at Bhadla Park has the capacity to generate significant electricity.
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14 Oct 2022
Is another debt crisis looming for emerging countries?
Are we reaching a critical juncture for developing economies - and the brink of another debt crisis?
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14 Oct 2022
Chancellor Kwarteng is sacked
The Chancellor of the Exchequer, Kwasi Kwarteng has been sacked after serving just 38 days in the job. Jeremy Hunt will take his place.
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13 Oct 2022
Exploring the gap in regional household disposable income
I suspect many Economics teachers have been using the concept of disposable income with great frequency in recent weeks. Most forecasts predict that in 2022-2023, there will be a significant fall...
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13 Oct 2022
UK government may launch fuel price comparison website
If you provide better information, then markets operate more efficiently. This is what economic theory would suggest, and it seems that the operation of the petrol market in Northern Ireland has...
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